When Tom Pidcock left Ineos Grenadiers for Q36.5 Cycling Team two winters ago, the British star wasn’t only swapping a fading superpower for an up-and-coming, ambitious start-up – he was jumping from one billionaire-backed team to another.

The difference between Ineos owner Jim Ratcliffe and Q36.5 bankroller Ivan Glasenberg is that the former appears to be looking for an exit from cycling while the latter is just getting started in the sport.

Glasenberg, a mining tycoon worth $13.9bn (£10.4bn) according to Forbes (about £3bn less than Ratcliffe), has emerged as a key figure within cycling politics in the past year. He has shown serious intent to overhaul the sport’s business model, and to make his Pidcock-headlined team one of the strongest.

It’s a bold vision worth shouting about – or so you might think. But the curious thing is, Glasenberg is a hard man to reach, and an even harder one to profile. Intensely private, he almost never speaks to the media and is reluctant to discuss his cycling ambitions, despite being a regular presence at the sport’s biggest races. In three-and-a-half years as owner of what is now Pinarello-Q36.5, no quote attributed to Glasenberg has appeared in the team’s press communications. In 2011, the Financial Times described him as “one of the great enigmas of the corporate world” – a label that fits his role in cycling too.

His curiously low profile should not be interpreted as a sign that Glasenberg, whose team is making their Tour de France debut this July, isn’t serious about transforming the sport. “He’s got a big voice and people seem to listen to him,” said one source who has interacted with Glasenberg frequently in the past six months. Word within cycling has it that the UCI, the sport’s governing body, is acutely attuned to his ambitions.

This article was published by Cycling Weekly in April 2026. To read the full article click here.